Saturday 4th, Shiba Inu is breaking past market limitations with ease. The memecoin is one of the most talked about in the industry, and the reason why is more and more evident each day. Shiba Inu has very recently secured new gains, going up to 16% in the last 48 hours.

Shiba Inu’s metrics on our data is showing that the memecoin and Dogecoin rival has raked in gains going above 20% in the last 7 days. Shiba Inu hit a high of $$0.00001457 earlier today. At press time, Shiba Inu’s price is sitting at $0.0000142.

Shiba’s unparalleled run has elicited a response from David Gokhshtein, a crypto opponent who noted that Shiba Inu is seeing a meteoric rise in price.

$SHIB is moving fast. 🔥

— David Gokhshtein (@davidgokhshtein) February 4, 2023

Shiba Inu’s performance in 2023 is quite notable among traders and investors alike. Shiba Inu, like many other altcoins in the market, was not spared by the bears last year. Shiba Inu went on to close in December 2022 with a price of $0.000008087.

Since 2023, Shiba Inu’s gains continued to increase, and the meme coin is now close to unseating Polkadot (DOT). With a market cap of $7.83 billion, Shiba Inu could take Polkadot’s position. Polkadot is currently the 12th most valued crypto, with a market cap of $8.03 billion. With Shiba Inu’s trading volume overshadowing DOT’s, Shib could easily claim that position in the weeks ahead.

Shibaruim’s launch is boosting Shiba Inu’s massive price pump

The leading factor behind Shiba Inu’s sky-high rise is not at all a mystery. A close look into the market shows that the market is talking endlessly about the launch of Shibarium.

Shibarium, the Layer 2 protocol that has been the topic of conversation among Shiba Inu fans, is a major driving force in the Shiba Inu price rally.

Whale interest in Shiba Inu has increased over time. It appears that top ETH holders are working hard to get a piece of the pie, ahead of Shibarium’s launch.

This is no doubt driving the price of Shiba Inu. The interest in the memecoin after the launch of Shibarium could surge as a result. More investors might also enter the Shiba Inu market, and send prices even higher.

However, the Shibarium upgrade might be delayed yet again. The market anticipated that the launch would go down on February 14th. This was after the lead developer of the project Shytoshi Kusama.

Kusama changed his bio, saying he would “put Shibarium in a heart-shaped box with a bow.” The post has since been wiped off his bio and Shib fans remain expectant for the upcoming weeks.

Der Beitrag Shiba Inu price explodes by 16% as launch of Shibarium inches closer – Report erschien zuerst auf Crypto News Flash.

Since the beginning of 2023, there’s been much talk over the launch of Shiba Inu’s Layer-2 scalability protocol Shibarium. Things have moved on track so far and the beta launch is expected anytime around mid-February with a tentative date of February 14.



As the Shiba Inu army looks forward to the launch, a new message from lead developer Shytoshi Kusama shows that the team is busy preparing for the launch. In one of the screenshots shared regarding his communication on the update, Kusama said “everything is going on schedule.”

SHIB community member and ecosystem loyalist Lucie Sasinkova recently tweeted through her Twitter handle @LucieSHIB the screenshot of the message posted by Shytoshi Kusama in recent times. The screenshot shows that the preparation for the release of Shibarium is currently in full swing.

The lead developer of the Shiba Inu token – Shytoshi Kusama – has been testing algorithms for rolling it out. Lucie noted that expects the developer to release the documents of Shibarium very soon.

Another tease from @ShytoshiKusama
… link was posted and erased… #Shibarium docs coming… WEN pic.twitter.com/3HsVXCrDT9

— Lucie ➹ ➹ ➹ (@LucieSHIB) February 1, 2023

Working on the final details of Shibarium

Earlier this week on January 31, @sunshineSHIB – a SHIB fan account – shared the screenshot of a message from Kusama on Discord. Here the lead developer explained what he meant about changing his geolocation status on Twitter to “The Situation Room”. This basically highlights a place where important decisions are made by leaders.

Kusama explained that he was working on the final details before the beta launch of Shibarium. Apparently speaking to a Shiba Inu developer team member dubbed “Seko” Kusama said that they should expect a “year recap that outlines wins, errors, fixes, lessons and also docs that explain in full where we are and where we are going so that we can move forward with Shibarium fudless.”

In his recent tweet, @sunshineSHIB shared a screenshot wherein Kusama says “everything OK schedule” while probably referring to the preparation for the Shibarium launch. However, the lead developer has shared his concerns that once the Layer 2 protocol kicks off, “the same clawing between the factions will continue.”



Probably, Kusama was referring to his recent feud with SHIB Defense Team co-lead Trophias. The SHIB Defense Team has accused Kusama stating that he made a hostile takeover of the SHIB ecosystem.

I have no idea who or what can be trusted at this point, a weird space to be in when launching Shibarium #SHIB #SHIBARMY pic.twitter.com/z4ygeRK4DL

— SHIB FORCE 柴犬 (@sunshineSHIB) February 2, 2023

More details will be clear over the next two weeks but for now, things seem to be on track. The Shibarium launch seeks to bring greater scalability to the Shiba Inu blockchain while facilitating low-cost transactions. Other players in the crypto community have also been eagerly waiting for the launch of Shibarium.

Der Beitrag Shiba Inu: Release of Shibarium on track to onboard industry giants in billion-$-market – Report erschien zuerst auf Crypto News Flash.

Shiba Inu’s community members have received yet another hint that the long-awaited Shibarium update is right around the corner.

In a now deleted tweet that was posted on the 1st of February, Shiba Inu influencer with the twitter handle “LucieSHIB” revealed a blogpost that further teased the release of the Shibarium launch.

In the tweet, the influencer posted a screenshot that contained an excerpt of a recent blog post titled “TEST”. The post was written by popular Shib developer Shytoshi Kusama.

“This post is simply to test Twitter’s algorithm
for this website in preparation for Shibarium release.” Shytoshi Kusama wrote in the blogpost.

Another tease from @ShytoshiKusama
… link was posted and erased… #Shibarium docs coming… WEN pic.twitter.com/3HsVXCrDT9

— Lucie ➹ ➹ ➹ (@LucieSHIB) February 1, 2023

The blogpost which was very brief, was posted yesterday, but was later quickly erased, and has since been unavailable to the ShibaSwap blog paste, which it was posted to.

Influencer LucileShib has mirrored other influencers and community member’s sentiments, as she states that the blogpost was in fact another tease for the Shibarium upgrade. She also added that it was likely a hint at the Alpha stage already being completed.

This also means that the Shibarium upgrade, despite the release date not being revealed, could be launched to the public this February.

Shibarium ; when does it arrive? And how will it affect SHIB?

Shibarium is a layer 2 Blockchain scaling solution, which is being built to advance the workings of Ethereum ; Shiba Inu’s host chain.

Shibarium was first proposed in May 2021, by Shiba Inu’s anonymous creator Ryoshi. Shibarium’s launch has since been teased by developers, who have yet to drop an actual release date to the Shib community.

However, in its last tweet, the Shiba Inu network took to twitter to mention that the Shibarium Beta Network upgrade is “upcoming.”

Shibarium Update 🧵

As we approach the launch of the upcoming Shibarium Beta Network, we first would like to start by thanking the Shiba community for bringing such energy and excitement surrounding the upcoming phased introduction.

1/6 🧵

— Shibarium Network (@ShibariumNet) January 4, 2023

This is to confirm and validate, from us, the official source, that BONE is and remains the only token selected for gas fees and use. No other tokens will be necessary to operate within the protocol.

Shiba Inu network noted in another tweet.

It is being speculated that the launch of the Shibarium blockchain will catapult the price of Shib to a new price level. This is expected, particularly because Shiba Inu will likely gain more popularity after the launch, further making Shiba Inu a more valuable blockchain to the broader market.

Adoption for the Shib token could hit roof levels in the future, and Shib Inu’s price will react to this positively, with a price pump.

Der Beitrag Will Shiba Inu’s Shibarium launch on the 14th of February? Lead developer shares updates erschien zuerst auf Crypto News Flash.

Popular memecoin and Dogecoin competitor Shiba Inu is making headlines for attaining noteworthy achievements since the start of 2023. Most recently, Shiba Inu has scored another win in the cryptocurrency market, with Shib becoming the most traded token among top 100 Ethereum (ETH) wallets.

The report comes from Crypto Twitter user Whalestats, who reveals in a recent tweet, that Shiba Inu has dethroned Perpetual Protocol (PERP), and managed to emerge the most traded token among top 100 ETH whales on the 31st of January.

📰 JUST IN: $SHIB @Shibtoken flipped $PERP for MOST TRADED token among top 100 #ETH whales

Check the top 100 whales here: https://t.co/N5qqsCAH8j

(and hodl $BBW to see data for the top 5000!)#SHIB #PERP #whalestats #babywhale #BBW pic.twitter.com/bKGJIxa2qn

— WhaleStats (tracking crypto whales) (@WhaleStats) January 31, 2023

When Shiba Inu achieved this feat, data from Coinmarketcap showed that trading volume for that day was over $323 million. On the other hand, its rival Perpetual Protocol (PERP), was only recording a trading volume slightly above $ 51 million.

Similarly, Whalesats also reported on the 1st of February that Shiba Inu has unseated Wrapped Ethereum (WETH), the ERC-20 compatible version of Ether, to become the most traded token amongst the top 1000 whales.

📰 JUST IN: $SHIB @Shibtoken flipped $PERP for MOST TRADED token among top 100 #ETH whales

Check the top 100 whales here: https://t.co/N5qqsCAH8j

(and hodl $BBW to see data for the top 5000!)#SHIB #PERP #whalestats #babywhale #BBW pic.twitter.com/bKGJIxa2qn

— WhaleStats (tracking crypto whales) (@WhaleStats) January 31, 2023

The achievements have rightfully triggered a wave of excitement among Shiba Inu supporters and community members. Shiba Inu’s adoption is anticipated to skyrocket this year, with the continuous Shib burn, and the network’s continuous growth.

Shiba Inu’s popularity rises as it reaches new milestones daily

As more investors and traders pay attention to Shiba Inu, demand for the memecoin is rising at a meteoric pace. This has now been reflected in the holdings of the largest Ethereum (ETH) whale accounts.

As WhaleStats reported on the 30th of January, the top Ethereum (ETH) 500 whale accounts are holding the highest amount of Shiba Inu tokens in their wallets.

With $581,857,477 SHIB coins being held by these whale accounts as at when the report was made,  Shiba Inu dethroned seven other leading altcoins in the market, to attain this position.

Behind Shiba Inu, are BEST, MATIC, LOCUS, BIT, LINK, UNI, and the MANA token. All of these altcoins collectively made up a total of $1.122 billion during the time of the report.

All of the growth that Shiba Inu is recording could no doubt influence the price of the memecoin in the near future. As demand and trading rises, Shiba Inu is bound to become even more scarce. This holds positive for its price later on, which is predicted to tap $1 before the close of 2023.

Der Beitrag Shiba Inu most wanted asset among top 100 Ethereum whales – Is SHIB poised for a rally to $0.01? erschien zuerst auf Crypto News Flash.

Travala.com recently announced Shiba Inu as a valid payment method in a tweet. The world’s leading blockchain-based travel booking platform, has included Shiba Inu in its payment options for a Vietnam destination.

Travala in the news mentioned that members of the Shiba Inu community can now book activities of their choice at Phú Quốc. Phú Quốc is Vietnam’s largest water sports destination, hosting activities like sailing, kayaking, scuba diving, snorkeling, etc.

Hey @Shibtoken community, did you know Phú Quốc is Vietnam's most popular destination for water sports? 😎

Check out the incredible activities you can book there with $SHIB, including snorkelling, kayaking, sailing, scuba diving, and so much more!🤿

👉 https://t.co/WhPrInLMMX pic.twitter.com/HLSZUHiFBs

— Travala.com (@travalacom) January 26, 2023

This new inclusion by Travala also enables Shib holders to book any of the 3 million travel products available on Travala.com. Shiba Inu is actively being promoted by Travala as a viable payment option. Recall that in December 2021, Travala implemented support for Shiba Inu.

Last November, Travala announced that Shiba Inu owners could pay for reservations at W Hotels, a five-star luxury hotel with a base in Dubai. Shiba Inu and Travala teams also signed a collaboration agreement in November. The agreement provided members of the SHIB community with an exclusive offer.

Members of the Shiba Inu community were prompted to sign up for an account on Travala in exchange for a free credit worth $25. The free credit could be used by Shiba Inu owners to reserve more than 3M hotels. Flights and other travel-related services can also be booked on the Travala platform.

Trusted by thousands of customers worldwide as their preferred online travel agency, Travala continues to expand its crypto utility. Travelers can choose from among the world’s most amazing lodging options on Travala.  Including everything from hotels, flats, villas, and hostels to 5-star luxury resorts.

Currently, the Travala.com platform offers 2,200,000+ properties covering 90,124 destinations in 230 countries and territories, at rates up to 40% less than those of other major travel booking websites.

Shiba Inu continues to Increase Utility

Shiba Inu has been seeing increasing usage, particularly its acceptability as a payment channel. This growing list of Shiba adoption has caught the attention of top cryptocurrency payment processors like BitPay and Binance Pay. Both processors have been introducing services that enable companies to accept Shiba Inu payments.

Some businesses have opted to pay salaries to staff in SHIB tokens. Some prestigious charity institutions have also opened up to donations from Shiba Inu owners. Others include e-commerce businesses, real estate developers, merchants, etc., also accepting Shiba Inu as a form of payment.

The world of cryptocurrencies is generally on a wide adoption spree as the wider global population opts for the more secure, transparent, and faster mode of payment.

What other utilities might be added to Shiba Inu’s list remains unknown, but the future looks bright and positive for the cryptocurrency and others.

Der Beitrag Shiba Inu: Book your next trip to Vietnam and pay with SHIB – Adption wave hits the market erschien zuerst auf Crypto News Flash.

The world’s second-largest memecoin Shiba Inu (SHIB) has been once again in the news as the Bermuda Privacy DAPP now allows users to transfer their SHIB holdings anonymously to any wallet.

This means that the SHIB coins can perform similarly to other privacy coins in the market such as ZCash and Monero. The non-custodial privacy dApp Bermuda recently announced its support for Shiba Inu. In its announcement, Bermuda noted that users would be able to transfer their SHIB to other wallets without disclosing their personal wallet address during the transfer. This brings along a layer of privacy for all SHIB holders while transferring their coins.

Less than 24 hours until the #SHIBARMY can start trading $SHIB as a privacy coin!$BMDA @Shibtoken #privacy #crypto pic.twitter.com/rBOGkocIHL

— Bermuda ($BMDA) (@BermudaEth) January 26, 2023

Bermuda’s application of allowing users to make anonymous crypto payments isn’t just limited to Shiba Inu. This non-custodial, privacy-focused decentralized application (dApp) supports other digital assets as well for conducting anonymous transactions.

Whenever a user makes a payment using Bermuda, the dApp replaces the real wallet address with a virtual address. This helps to keep the user’s identity and transaction details private.

Ever since the crypto bull run of 2021, the Shiba Inu ecosystem has continued to expand with more and more exchanges announcing support for the memecoin. Recently, crypto custodian BitGo also announced support for Shiba Inu, allowing users to securely store, send, and receive SHIB coins on both custodial as well as hot wallets.

Shiba Inu and Shibarium

Currently, the entire Shiba Inu community has been eagerly waiting for the launch of the Layer-2 scalability solution Shibarium. As per several industry experts, the Shibarium launch is expected in the next few weeks and could be somewhere around mid-February.

The Shibarium launch will likely provide a boost to the Shiba Inu ecosystem as it plans to bring low-cost transactions while offering greater scalability. Although the Shibarium L2 platform is in the making, some players have already started showing interest in the platform.

Shiba Inu lead developer Shytoshi Kusama recently noted that Shibarium will be useful in different crypto projects such as Falcon 9 (F9) and Metabet (MBET). “I’m so excited to see projects like F9, Ufo, MBet, VXL, and other tokens utilize Shibarium and our other platforms. That’s the point, right?!” he said. 

Popular crypto influencer SHIB Knight also noted that the team behind Shibarium is also working on a bridge solution to allow them to easily transfer assets to Ethereum.

Der Beitrag New feature turns Shiba Inu into privacy coin like Monero or ZCash – Can it drive SHIB to $0.01? erschien zuerst auf Crypto News Flash.

The developers at Shiba Inu have been actively working on the launch of the Layer-2 scalability platform Shibarium. As the launch of Shibarium edges closer, the team behind Shiba Inu continues to share its expectations.

In his recent tweet Shiba Inu influencer “Nasty Shib” shared a screenshot of Shytoshi Kusama’s expectations hinting at the potential utility of the Shibarium network. Shiba Inu lead developer Shytoshi Kusama stated that the upcoming Layer-2 blockchain Shibarium would be useful to cryptocurrency projects such as Falcon 9 (F9) and Metabet (MBET).

Falcon 9 is an Ethereum-based crypto community project whose native F9 token is tradeable on the decentralized exchange Uniswap as well as Shiba Inu’s decentralized exchange ShibaSwap. METABET, on the other hand, is a play-to-earn/Gamefi casino ecosystem that can trade only on Shiba Inu’s decentralized exchange.

In the screenshot shared, Shytoshi Kusama wrote: “I’m so excited to see projects like F9, Ufo, MBet, VXL, and other tokens utilize Shibarium and our other platforms. That’s the point, right?!”

I'm looking forward to when more investors begin to understand what for since the beginnings I have called the "ecosystem" and "satellite" tokens.

Much like a tree there will be larger and smaller branches of what essentially is Shibarium as the trunk with #SHIB roots 💫🩶🧡❤️ pic.twitter.com/5Iz2Gr49em

— NastyShib 💫🤍🧡❤️ (@NastyShib) January 25, 2023

These latest comments from Shytoshi Kusama add fuel to the ongoing hype regarding the launch of the Layer-2 blockchain Shibarium. Earlier this month, Kusama compared Shibarium to a “pine tree” that requires water, sunlight, and good soil to grow.

Besides, the lead developer added that Shibarium would survive and thrive even during the harshest of winters. The Layer-2 Shibarium network would usher fast, low-cost, and secure transactions. Additionally, Shiba Inu is also building Shibarium to serve diverse crypto sectors such as the Metaverse and gaming. All these exciting features of Shibarium are making the crypto community even more excited for the upcoming launch.

Expecting Shibarium to launch in February

Talks around the launch of Layer-2 blockchain Shibarium have been going on for a few weeks. Some popular people in the crypto space believe that the launch of Shibarium shall happen by the mid of February tentatively on February 14. However,’ there’s no official confirmation yet from the Shiba Inu developers.

While the excitement around Shibarium builds up, other players in the crypto community are preparing themselves for it. Popular crypto influencer SHIB Knight noted that the Shiba Inu team is supposedly working on a Shibarium bridge that would allow users to assets between Ethereum and Shibarium. If so, this development will bring great utility to the Shibaarium blockchain. On the other hand, crypto hardware wallet maker Ledger has already confirmed supporting the Shibarium protocol upon launch.

Der Beitrag Shiba Inu: These massive crypto giants will use Shibarium – Will it drive SHIB price rise to $0.01? erschien zuerst auf Crypto News Flash.

Our data shows that investors have taken a step back with a majority of cryptocurrencies’ prices stagnating. Bitcoin which is the trendsetter has failed to break the $23,000 resistance level triggering speculation that it will retract and test recent supports. Despite prices stalling, network development and technological developments are still ongoing painting a bullish picture for a number of projects.

In this week’s CNF brief, we take a look at some of the most intriguing developments.

Massive cash for Bitcoin price uptrends comes from US institutions

A report early this week revealed that institutional investors play a key role in Bitcoin price uptrends. Although a majority of mainstream institutions are wary of cryptocurrencies, firms like MicroStrategy Incorporated, Block Inc, and Paypal Holdings Inc are notably heavily invested in cryptocurrency. Matrixport’s head of research and strategy, Markus Thielen confirmed that the bulk of the buying momentum that is pushing the price of Bitcoin upward is being fueled by the hoard of institutional investors pumping cash into the industry.

As these investors increase, it’s expected that prices will continue to rise. Additionally, regulators will be under massive pressure to introduce clear regulations that could further increase adoption. It’s further intriguing as recent data shows the Bitcoin Network processed more transaction value than Visa and Mastercard last year and is expected to surpass this in 2023…Read More

XRP price ‘in the thousands’ after Ripple vs. SEC case is settled

Speculation continues to grow around the XRP price. Earlier this month, Ripple CEO Brad Garlinghouse revealed that he expects the Ripple vs. SEC case will be settled in the first half of the year. With Ripple pegged to win, investors and analysts expect prices to rally. This especially after the advances in the XRPLedger from the last two years and the growth of the ecosystem will add to XRP price growth. Furthermore, some of the leading crypto exchanges that previously delisted XRP on their platform will rush to relist the digital asset.

Source: Travis Wolfe

However, Brad Garlinghouse-led company is treading on a very cautious path as any form of settlement without legally defining the status of the XRP coin can stir up another lawsuit sometime in the future… Read More

At the time of press, XRP is exchanging for $0.4109. The digital asset has been trading sideways for the last 7 days. With a record of $3.84 as the all-time high reached 5 years ago, the token is still a long way from its ATH.

Developers confirm billions of SHIB will be burned with Shibarium

Amid the tanking SHIB burn rate, lead developer Shytoshi Kusama assures an uptick in burn rate with the Shibarium release. The eagerly awaited  Layer-2 scalability network is set to launch soon and will offer a major boost to the SHIB token. Shytoshi Kusama recently confirmed on discord that trillions of SHIB coins will be burnt with the release of the Layer 2 platform Shibarium.

As per the MVRV-Z score indicator, the SHIB price is largely undervalued even now and holds the potential to rally another 75 percent two months from now…Read More

Samsung taps VeChain for intelligent ship data application

VeChain has continued to garner traction and receive major recognition. In the latest development, Samsung has tapped the leading blockchain for the deployment of its intelligent ship data application. With support from the World-leading certification authority DNV, Samsung Heavy Industries, the first Korean shipbuilding firm to take this step, has successfully deployed its “Intelligent Ship Network Security Application ” on the Vechain network.

In order to reduce the chances of information alteration when data is shared with ships and other off-shore tools on the recovering end, VeChain serves as a security solution for shipping companies, shipyards, and other bodies involved…Read More

ShimmerEVM finally launching as $MIOTA remains top 10 crypto for most active developer ecosystems

IOTA and its staging network Shimmer also made headlines during the week for various developments. For starters, ShimmerNet’s lead contributor noted that while close, they are not rushing to launch the ShimmerEVM citing the risks of the network going down.  Since the launch of the Shimmer network last year, the team has been working on the launch of the ShimmerEVM chain which is compatible with the Ethereum Virtual Machine (EVM).

The team at ShimmerEVM had been testing several UX improvements which include incorporating convenience functions such as using Shimmer to pay gas directly for L1-L2 transfers.This revelation follows a report that showed that IOTA is among the top 10 most active developer ecosystems. With Shimmer, IOTA could climb even higher as more developers join the ecosystem…Read More

Der Beitrag CNF Brief: 5 of biggest stories this week- Ripple, Shiba Inu, VeChain, IOTA and Bitcoin erschien zuerst auf Crypto News Flash.

The Shiba Inu community has been now waiting eagerly for the launch of its Layer-2 scalability network Shibarium. The beta launch of Shibarium has been teased quite a few times recently and is expected very soon.

Currently, Shiba Inu (SHIB) has been exchanging hands at $0.00001153 and is 0.43 percent down. the one thing that’s holding up Shiba Inu from performing well is the massive supply and the decline in the burn rate of the memecoin.

However, Shiba Inu lead developer Shytoshi Kusama recently confirmed on discord that trillions of SHIB coins will be reportedly burnt with the release of the Layer 2 platform Shibarium. The announcement comes just as a massive number of SHIB coins have been on the move between anonymous crypto addresses, as reported by the crypto tracking platform Whale Alert.

The crypto tracking platform had recently detected a single transfer of 3,312,307,240,798 Shiba Inu meme coins. On Thursday, the SHIB price rallied by 4 percet, however, fails to continue the momentum. The dog-themed crypto is still trading down from last week’s high of $0.00001273 when the SHIB price had jumped 20 percent in a day.

🚨 🚨 3,312,307,240,798 #SHIB (38,257,148 USD) transferred from unknown wallet to unknown wallethttps://t.co/0mdLkwpPQQ

— Whale Alert (@whale_alert) January 26, 2023

During the month of January, there have been multiple such large SHIB movements and similar transactions reported between unregistered owners. These could also be the “internal transactions made by exchanges or whales redistributing their wealth.”

Furthermore, there’s been a noticeable decline in the SHIB burn rate. On Thursday, the burn rate tanked by 100 percent. During this span, as little as 238,419 SHIBs were burned.

SHIB burn rate and Shibarium

As the SHIB burn rate has dropped considerably, the community has expressed concerns. But lead developer Shytoshi Kusama said that the ultimate goal is burning trillions of dollars worth of SHIB coins alongside the release of the Layer-2 scalability solution Shibarium.

While several of the altcoins have participated in the crypto market rally since the beginning of 2023, Shiba Inu to has joined the party. Since the beginning of 2023, the SHIB price has up by more than 35% competing with other big altcoins such as Polygon’s MATIC, Litecoin (LTC), Aptos (APT), etc.

As per the MVRV-Z score indicator, the SHIB price is largely undervalued even now and holds the potential to rally another 75 percent two months from now.

Another major reason behind the SHIB price surge has been of course the soon-approaching launch of Shibarium. A lot of development has also been taking place in this ecosystem recently. Popular influencer SHIB Knight recently hinted at the development of the Shibarium bridge in order to move assets between the Layer-2 platform and Ethereum. Additionally, crypto hardware wallet maker Ledger has also confirmed support for Shoibarium upon launch.

Der Beitrag Shiba Inu: Developer confirms billions of SHIB will be burned with Shibarium – Can it drive price to $0.01? erschien zuerst auf Crypto News Flash.

The Shiba Inu community has recorded yet another reason to get excited as Ledger, one of the most recognized providers of hardware crypto wallet has announced its plans to support the upcoming Shibarium protocol. Taking to Twitter to express the excitement, the memecoin’s publicity handle, SHIB INFORMER called the development an “Amazing News” as it showcases how well the protocol is working to bring value to its users across the board.

The Ledger confirmation of the support for Shibarium came in response to a question from a Shibarium supporter who posed the question directly to the wallet maker during its “Ask us Anything” series on Twitter. The supporter who goes by the username Burnsalot.nft requested to know if Ledger will be supporting Shiba Inu, and in response, Ledger confirmed it will and that the plans to integrate Shibarium have already been included in its roadmap.

That's amazing news, @Ledger_Support !!!#SHIBARMY #Shibarium pic.twitter.com/Ghdx99jF5N

— SHIB INFORMER (@ShibInformer) January 24, 2023

Shibarium is a Layer-2 protocol that is specifically designed to serve the members of the Shiba Inu ecosystem. Branded arguably as the most versatile memecoin ecosystem around, Shibarium will support the usability of the protocol in terms of enhanced speed and reduced transaction fees.

The burgeoning Shiba Inu world

The Shiba Inu ecosystem is growing at a sporadic rate, and the protocol is doing all it can to truly unseat its core rival, Dogecoin (DOGE). In one of its most ambitious moves, Shiba Inu invested 15 percent in a real-world fast food business Welly which it plans to push into the Middle East through a new outlet in Dubai.

Welly is currently looking for a partner in the region and according to the Twitter update by the company’s Chief Executive Officer (CEO), Stefano Gugl, the business will not be running as a franchise, but rather, as a new offshoot and the new partner will be a co-owner. Stefano noted that the Dubai outlet will receive management support from its experienced team members to help it lift off profitably.

Welly accepts payment in SHIB, one of the many ways in which the digital token is giving its holders an avenue to spend the coin as a viable payment token. The choice of Dubai to expand Welly’s footprint, and at the same time, Shiba Inu’s is because of the region’s positive disposition to the growth of the digital currency ecosystem through thoughtful legislation.

At this time, Dubai is looking at transforming its digital economy landscape and it considers blockchain technology and crypto as a crucial part of this transformation. With Shiba Inu extending its presence through Welly, it will have the first-mover advantage in the long run.

Consolidation use cases and fundamentals

There is a general perception that Shiba Inu as a digital token is highly undervalued and that it fuels the growth of the broader cryptocurrency ecosystem. The coin is maintaining its upward ecosystem growth momentum because it is consolidating its reach and use cases across the board.

Besides all that has been mentioned, the token is supported by the biggest platforms like Binance which staked an enormous portion of its supply, and its functional partnerships are generally contributing to its growing positive sentiment.

With its series of growth metrics, investors can expect a significant rub-off on the price of the asset. At the time of writing, Shiba Inu is trading at $0.00001125, down 6.62 percent over the past 24 hours.

Der Beitrag Shiba Inu: Crypto giant confirms support for Shibarium after launch – What investors can expect for SHIB price erschien zuerst auf Crypto News Flash.